Disney is trying to salvage its Indian dreams
CNN
The next few weeks could shape the future of Walt Disney in the world’s most populous country.
The next few weeks could shape the future of Walt Disney in the world’s most populous country. The Star India network was among the crown jewels Disney (DIS) acquired when it bought most of 21st Century Fox from Rupert Murdoch for $71 billion five years ago. With that blockbuster deal, the Magical Kingdom took over Fox’s business in India, gaining a new audience of more than 700 million people in the South Asian country, one of the world’s hottest media markets. But Disney hasn’t had the happily ever after it was hoping for. CEO Bob Iger admitted in an earnings call late last year that “parts of that business [in India] are challenged for us.” The House of Mouse was hit particularly hard in 2022 after it lost the digital rights to stream the hugely popular Indian Premier League (IPL) cricket matches to billionaire Mukesh Ambani’s conglomerate. The US company is now trying to salvage its India dream.
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